WASHINGTON (Reuters) – Weak demand is forcing American employers to lay off workers, keeping new claims for unemployment benefits extraordinarily high, even when companies have reopened, confirming views that the job market could take years to recover from the COVID-19 pandemic. FILE PHOTO: People line up in front of a …
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WASHINGTON (Reuters) – The coronavirus pandemic has caused more extensive and profound damage to economic activity than previously thought, the International Monetary Fund said Wednesday, prompting the institution to further cut its global output forecasts by 2020. The IMF said it now expects 2020 global output to shrink by 4.9%, …
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WASHINGTON (Reuters) – Sales of new single-family homes in the United States increased more than expected in May and business activity contracted moderately this month, suggesting that the economy was on the verge of recovering from the recession caused by the crisis in COVID-19. FILE PHOTO: Real estate signs advertise …
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WASHINGTON (Reuters) – The U.S. trade deal with China is not only completely intact, but Beijing has taken a constructive step forward in several areas, a senior White House adviser said Tuesday. FILE PHOTO: White House National Economic Council Director Larry Kudlow speaks in the Roosevelt Room of the White …
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WASHINGTON (Reuters) – Contradictory talks by Trump administration officials about the “decoupling” of the US economy from China are becoming a challenging reality: Chinese imports of US goods are increasing, investments by US companies in China continues and markets are wary of separating the world’s largest economies. FILE PHOTO: Chinese …
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